Nama’s subsidiary gets SIDF nod on loan extension, rescheduling

Logo of Nama Chemicals Co.

Nama Chemicals Co. announced that its subsidiary Jubail Chemical Industries Co. (JANA) has received an execution order from the Administrative Enforcement Court on Dec. 24, 2025 regarding Loan No. (1899) for a total amount of SAR 276.04 million. It also received an enforcement order from the Administrative Enforcement Court on Dec. 25, 2025 regarding Loan No. (1501) for a total amount of SAR 139.87 million.
 

The company contacted the Saudi Industrial Development Fund (SIDF) on Dec. 25, 2025 to request a deferment for repayment, and the fund approved granting the company a repayment extension until the end of February 2026, according to a statement to Tadawul.
 

Furthermore, JANA received on Feb. 16, 2026 a notice of seizure and execution issued by the Administrative Execution Court, in relation to the enforcement request received on Dec. 25, 2025 concerning Loan No. (1501) provided by SIDF. It has been in contact with SIDF since Dec. 25 to request a repayment deferment, and the fund approved granting the company an extension until the end of February 2026.
 

The company has received an official notice from SIDF indicating preliminary approval for the rescheduling of the above-mentioned loan, said Nama, adding that negotiations with the fund are still ongoing in this regard.
 

The company also confirmed that it is continuously monitoring this matter and taking the necessary measures to address the related financial obligations, as part of its plans to manage its financial commitments and maintain the continuity of its operations.
 

The related financial impact and any material developments in this regard will be disclosed later, it noted. 
 

According to Argaam’s data, Nama Chemicals received a notice on May 29, 2025 from SIDF, granting in-principle approval for FAAD Partners to complete the acquisition of a 40% stake in JANA. The company said SIDF rescheduled the two loans owed by JANA, loan No. 1501 (SAR 139.87 million) and loan No. 1899 (SAR 276.04 million).
 

In November 2024, Nama Chemicals received an official notice from the SIDF regarding its commitment to the guarantee provided under the loan agreement for JANA, according to data available with Argaam.